Juventus to launch digital token

Italian football club Juventus is to launch its own digital coin, closely following a similar move by French club Paris Saint-Germain.

The “fan token”, which will be mainly used for fan voting is expected to go live early next year.

In common, with Paris Saint-Germain, the Juventus coin is powered by the Socios.com blockchain platform.

Juventus has a world-wide fan base of around 60 million people

Engaging with fans

Given its world-wide fan base of around 60 million people, the move by Juventus will be closely watched by major football clubs across the globe.

As yet, it’s uncertain whether the Juventus token will be exchangeable solely for Socio’s chiliZ (CHZ) coin, as is the case for Paris Saint-Germain’s token.

Socios promotes its platform as a means for fans to vote on club matters, though these are determined by the clubs themselves.

It also claims fans can “engage with the platform to unlock club-specific rewards and VIP experiences.”

Crypto and football

In the UK, eToro announced last month that it had entered into a sponsorship agreement with seven Premier League football clubs, claiming to be the first brand to do so through bitcoin.

In partnership with sports marketing agency SportQuake, eToro revealed it had struck sponsorship deals with Newcastle United, Tottenham Hotspur, Crystal Palace, Southampton, Leicester City, Cardiff City and Brighton & Hove Albion.